Airtel launches mobile wallet in Delhi

Wednesday, June 1, 2011
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Bharti Airtel, India's largest telco by revenues and subscribers, launched its mobile wallet service Airtel Money in Delhi NCR, a company official said.

The service allows Airtel customers to make cashless payments from Rs 10 to Rs 5,000 a day for various services such as utility bills and movie tickets. The telco plans to raise the upper threshold to Rs 50,000 within two months, Airtel's m-commerce services chief operating officer Sriram Jagannathan said.

Bharti Airtel's scrip rose 1.83 per cent on Bombay Stock Exchange, closing at Rs 381 on Wednesday.

The service would be available to more than 8 million customers in Delhi, Noida, Ghaziabad and Faridabad and will be rolled out in the country in a phased manner.

The telco has tied up with more than 3,000 merchants so far including local chemists, grocery stores and utility providers like BSES Yamuna and Indraprastha Gas. Earlier this year, the service was launched in Gurgaon and Chennai on a pilot basis.

Customers can fill their mobile wallet by going to the nearest Airtel retail outlet. Last year, Airtel's m-commerce service got a licence to use semi-closed wallet by the Reserve Bank of India.

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